Oakbay, a fighter of SA natives, has yet again prevailed in its accounts closure case, thus truly justifying this win for its 7000 native employees. Bank Of Baroda has been specifically instructed to keep the Oakbay accounts open for the next 15 days as per The North Gauteng High Court verdict on Monday. Judge Makgoka has granted this application to #Gupta owned companies to smoothly run their bank accounts’.
This win comes in the light of the recent court case commotion between Bank Of Baroda and Oakbay in which the court had favored BOB to close the accounts of Oakbay on 21st September, 2017. BOB had argued that it faces a “reputational risk” should it continue to do business with the Gupta owned holding firm. Oakbay had re-appealed resulting in the case win.
Oakbay has been unnecessarily embroiled in this white monopoly nuance of strategically closing the holding firm’s banking accounts in South Africa. Oakbay currently comprises of 20 companies, thus employing 7000 SA natives.
As per the big expose by WMCLeaks, WMC corrupt Trevor Manuel had strategized an entire scenario in collaboration with the BOB sell-out Manoj Kumar Jha in order to compel the bank in closing Oakbay’s bank accounts. This Oakbay win has foiled this entire strategy of WMC.